By Commodity News Service Canada
WINNIPEG, Oct. 12 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Wednesday, October 12.
– CBOT corn futures settled lower on Wednesday, as traders reacted to the monthly USDA supply/demand report. The December contract was down by 8.50 cents at US$3.3700 per bushel.
– The USDA pegged the US corn crop at 15.06 billion bushels, which was down from an earlier estimate, but above average trade guesses and still the largest corn crop ever.
– Brazilian farmers are making good progress seeding their next corn crop, with 82 per cent of intended acres now in the ground in the state of Parana, according to a report.
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– Total cereal production in the European Union, at 293.8 million tonnes in 2016/17, was 2.5 per cent below the five-year average, according to a report from the European Commission. Adverse climate conditions were cited as a major reason behind the 16.2 million tonne cut from the previous estimate.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$147 to C$165 per tonne range as of October 7, which were unchanged from the previous week, according to the latest pricing information from the provincial government. Feed wheat prices were down by about five dollars on average, to range from C$170 to C$185 in Lethbridge.
